Reexamining professional certification in human resource management

This article explores certification issues in human resource management based on a survey of four well-known associations. First, it distinguishes certification from accreditation and licensure. Second, it presents information on certification practices, policies, and standards for four major certifying organizations. Third, it discusses the benefits and drawbacks of certification at the individual, company, and professional levels. Lastly, it points up the importance of continued research on certification in the human resource management field. © 1995 by John Wiley & Sons, Inc.     

OPTIMAL FUTURES HEDGE WITH MARKING-TO-MARKET AND STOCHASTIC INTEREST RATES

We investigate the effect of marking-to-market on an optimal futures hedge under stochastic interest rates. An intertemporal optimal hedge ratio that accounts for basis risk and marking-to-market is derived. This ratio includes all previous hedge ratios, with constant interest rates as special cases. In a preliminary empirical study using S&P 500 index futures contracts, we demonstrate that the futures-forward hedging differential is nontrivial, especially in risk-return optimization. We also show that the covariances between interest rates and spot and futures prices explain the differential: the larger the covariances are, the larger the differential will be.     

An Empirical Test of the Institutionalist View on Income Inequality

This paper analyzes the relationship between income inequality and economic growth within the United States using state level data. It describes income inequality in the U.S. since 1960, then employs a two‐step causal model to test the institutionalist contention that income inequality leads to socio‐political instability, which has a negative impact on economic progress. The empirical results offer support for the institutionalist view.     

Better him than me: social comparison theory and service recovery

We conduct two studies to examine if, when, and why communication strategies using social comparisons can effectively restore emotional equilibrium after a service failure, and thus aid recovery efforts. In our first study, we find that after a service failure, like compensation, downward social comparisons reduce anger and improve post-purchase behavioral intentions (including exiting, complaining to management, engaging in negative word-of-mouth, and complaining to a third party). However, when two recovery tools, compensation and downward social comparisons are used together they do not have an additive effect. Additionally, we show that anger mediates the social comparison effect. In a second study, we further explore the social comparison effect and the financial compensation effect using complete and incomplete downward social comparisons and multiple levels of financial compensation. Our findings indicate that complete downward social comparisons are particularly effective at improving all four types of post-purchase behavioral intentions when financial compensation is non-existent or relatively low. Finally, we discuss implications for theory and practice. The authors would like to thank Irwin Levin, Jim Sinkula, the anonymous reviewers, and David Stewart for their insightful comments and invaluable guidance related to this article.     

Using local injury surveillance for community-based injury prevention: an analysis of scandinavian WHO safe community and canadian safe community foundation programmes

Injury surveillance is widely recognized as a critical prerequisite for effective injury prevention, yet few studies have investigated its use by community-based injury prevention programmes. This study examined the extent to which local injury data were collected, documented, analysed, linked to injury prevention action and used for evaluation among WHO Safe Communities in Scandinavia (25 programmes) and the Canadian Safe Community Foundation (SCF) network (16 programmes). For each programme, a key informant with relevant local knowledge was selected to respond to an emailed questionnaire. The study demonstrates that community-based injury prevention programmes experience difficulties accessing and effectively utilizing local injury surveillance data. The findings suggest that the responding SCF programmes approach injury prevention more scientifically than the Scandinavian WHO-designated Safe Community programmes, by making greater use of injury surveillance for assessment, integration into prevention strategies and measures, and evaluation. Despite study limitations, such as the low response rate among Canadian programmes and a large number of non-responses to two questions, the results highlight the importance of, and need for, greater use of local injury surveillance.     

Work–family enrichment and satisfaction: the mediating role of self-efficacy and work–life balance

Although the direct effects of work–family enrichment on satisfaction are well-documented, previous theoretical predictions and empirical findings of the relationship have been inconsistent. Drawing on social cognitive theory, the current research examined how work–family enrichment contributes to job and family satisfaction by exploring the mediating mechanisms of self-efficacy and work–life balance. This study also empirically validated a new self-efficacy measure using the work–life interface nomological network. A heterogeneous sample of Australian employees (N = 234) from four different organisations responded to two waves of data collection separated by a 12-month interval. Using structural equation modelling, the results of the statistical analysis provided preliminary support for the hypothesised chain mediation model and the newly developed five-item self-efficacy to regulate work and life scale. Specifically, work-to-family enrichment and family-to-work enrichment were positively related to self-efficacy, which in turn had a positive effect on work–life balance. Similarly, work–life balance had a positive impact on job and family satisfaction. Evidence of these relationships over time was demonstrated, thereby emphasising the importance of person–cognitive resources (e.g. self-efficacy) in influencing life outcomes. Validation of the self-efficacy scale also demonstrated robust psychometric properties and criterion validity. Implications of these results were subsequently discussed.